Investments: Ministry proposes three-year override for rules

摘要

The Government has proposed introducing a three-year statutory override of new rules that change the way councils treat investments in their final accounts.Councils have been battling to persuade the Government for a permanent override because they believe the implementation of IFRS 9 will have an 'unintended negative impact' on local authority revenue accounts, with fears they will have to keep back extra cash or make cuts.